Leerink Partnrs Weighs in on Biohaven Ltd.'s Q3 2024 Earnings (NYSE:BHVN)

Biohaven Ltd. (NYSE:BHVN - Free Report) - Stock analysts at Leerink Partnrs dropped their Q3 2024 earnings per share (EPS) estimates for Biohaven in a research note issued on Monday, September 23rd. Leerink Partnrs analyst M. Goodman now anticipates that the company will earn ($1.83) per share for the quarter, down from their previous forecast of ($1.80). The consensus estimate for Biohaven's current full-year earnings is ($8.92) per share. Leerink Partnrs also issued estimates for Biohaven's Q4 2024 earnings at ($1.88) EPS, FY2024 earnings at ($9.55) EPS, FY2025 earnings at ($6.60) EPS, FY2026 earnings at ($5.35) EPS, FY2027 earnings at ($2.80) EPS and FY2028 earnings at $0.55 EPS.

Several other research firms have also issued reports on BHVN. Sanford C. Bernstein lifted their target price on Biohaven from $55.00 to $66.00 and gave the company an "outperform" rating in a research note on Tuesday. Jefferies Financial Group assumed coverage on shares of Biohaven in a report on Monday, September 16th. They issued a "buy" rating and a $57.00 price target on the stock. Piper Sandler boosted their price objective on shares of Biohaven from $66.00 to $76.00 and gave the stock an "overweight" rating in a research note on Monday. Bank of America increased their price target on Biohaven from $52.00 to $62.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Robert W. Baird upped their price objective on shares of Biohaven from $58.00 to $60.00 and gave the company an "outperform" rating in a report on Monday. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $60.92.

Biohaven Trading Up 4.0 %

Shares of BHVN traded up $1.95 during mid-day trading on Thursday, hitting $51.18. The company's stock had a trading volume of 1,484,249 shares, compared to its average volume of 1,182,240. The company's 50-day moving average is $39.23 and its 200-day moving average is $40.78. Biohaven has a 52-week low of $20.80 and a 52-week high of $62.21. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of -7.49 and a beta of 1.30.

Biohaven (NYSE:BHVN - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($3.64) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.72) by ($1.92).

Hedge Funds Weigh In On Biohaven

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Biohaven by 280.5% in the first quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company's stock valued at $345,031,000 after acquiring an additional 4,650,702 shares in the last quarter. Darwin Global Management Ltd. purchased a new stake in shares of Biohaven in the 1st quarter valued at approximately $80,776,000. Point72 Asset Management L.P. raised its holdings in shares of Biohaven by 142.2% in the 4th quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company's stock valued at $106,297,000 after purchasing an additional 1,458,072 shares in the last quarter. Farallon Capital Management LLC lifted its position in shares of Biohaven by 181.4% during the 2nd quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company's stock worth $78,028,000 after purchasing an additional 1,449,000 shares during the last quarter. Finally, Bellevue Group AG acquired a new position in shares of Biohaven during the fourth quarter worth $46,010,000. Institutional investors and hedge funds own 88.78% of the company's stock.

Insider Buying and Selling

In other news, Director Gregory Bailey acquired 5,000 shares of the company's stock in a transaction dated Tuesday, September 24th. The stock was acquired at an average cost of $44.19 per share, with a total value of $220,950.00. Following the completion of the purchase, the director now owns 1,620,071 shares of the company's stock, valued at approximately $71,590,937.49. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Biohaven news, Director Gregory Bailey purchased 5,000 shares of Biohaven stock in a transaction dated Tuesday, September 24th. The shares were acquired at an average price of $44.19 per share, with a total value of $220,950.00. Following the completion of the transaction, the director now owns 1,620,071 shares of the company's stock, valued at $71,590,937.49. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John W. Childs acquired 28,400 shares of the stock in a transaction dated Thursday, July 18th. The stock was acquired at an average cost of $35.67 per share, with a total value of $1,013,028.00. Following the purchase, the director now owns 2,339,741 shares of the company's stock, valued at approximately $83,458,561.47. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by corporate insiders.

About Biohaven

Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company's pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer's and Parkinson's disease, sclerosis, and amyloid-related imaging abnormalities.